Technically the solution is sound but I am not sure if it is meeting the business needs or not.
When you enter an invoice for company 02 you would normally would the liability account for company 02 to be credited (not 01). You can control that using balancing segment offset settings in Payables Options. In that case you will not get cross entity error.
Otherwise if this is what business wants that company 01 will assume the liability no matter which company is generating expenses, then your solution is fine.